Related to the Economics in Practice on p. 52: Economist Meghan Busse found after examining more than 40 million car transactions that car purchasers are ________ influenced in their choice of cars by temporary weather fluctuations at the time of purchase.
A. slightly
B. not at all
C. heavily
D. always
Answer: C
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In comparing futures contracts with options contracts, we can say that
A) in a futures contract, the buyer and seller have symmetric rights, whereas in an options contract, the buyer and seller have asymmetric rights. B) in a futures contract, the buyer and seller have asymmetric rights, whereas in an options contract, the buyer and seller have symmetric rights. C) in both futures and options contracts, the buyer and seller have symmetric rights. D) in both futures and options contracts, the buyer and seller have asymmetric rights.
Sam quits his job as an airline pilot and opens his own pilot training school. He was earning $40,000 as a pilot. He withdraws $10,000 from his savings where he was earning 6 percent interest and uses the money in his new business. He uses a building he owns as a hangar that he could have rented out for $5,000 per year. He rents a computer for $1,200, buys office supplies for $500, rents an
airplane for $6,000 . pays $1,300 for fuel and maintenance, and hires one worker for $30,000 . Sam's total revenue from pilot training classes this year equaled $90,400 . Sam's explicit costs this year equal a. $84,400 b. $39,000 c. $55,000 d. $45,600 e. $40,000
Which of the following is a source of information that helps consumers acquire information about the quality of a good or service?
a. brand names b. franchising c. consumer ratings magazines d. all of the above
Which of the following situations results in a shortage of euros?
a. The dollar price of euros is much higher than $1.50.
b. The dollar price of euros is slightly higher than $1.50.
c. The dollar price of euros is equal to $1.50.
d. The dollar price of euros is less than $1.50.